Rickmers Maritime to be wound up
Container ship owner Rickmers Maritime Trust is to be wound up following the failure to reach an agreement with lenders to restructure the Trust’s debts.
According to data from VesselsValue, the trust owns 14 container vessels worth US$89m, all from the Panamax class which has suffered following the expansion of the Panama Canal.
Rickmers Trust Management Pte, the trustee-manager, is currently in advanced discussions with a potential buyer for the Trust’s assets which may allow the Trust to distribute cash recoveries upfront to unsecured creditors.
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